How to run a Liabilities report

The instructions that follow will help you create a report of all payments that have been taken in for events that have yet to occur. In this search, each row will represent a payment on an event in Tripleseat. Some people refer to this as a liabilities report, or a cash-on-hand report. But regardless of what you call it, it provides crucial information to your accountant and whoever manages your business’ financials. Running this report today will tell you how much you should keep “on hand” in case your business goes under tomorrow. Should the unthinkable happen, you will know how much you have to refund for all future event payments. (Disclaimer – we sincerely hope this never happens! Just a good report to have up your sleeve.)

TO CREATE THIS REPORT:

1. Go to Reports.
   
   
2. Scroll to Event Payments Report. Click Paid.
   
   
3. On the next page, click Customize. This will open a popup window where you can further refine your search.
   
   
   
   FILTER WHAT PAYMENTS APPEAR
4. Use the Payment Paid field to filter All Dates Before today. This will show all payments made before that date.
   
   
5. Click on the Event Details tab. This tab allows you to add another layer of filtering to the results. Use the Date of Event field to filter for all events one day after the payment cutoff (so all events after tomorrow).
   
   
   
   CUSTOMIZE THE COLUMN DATA
6. Click on Columns. This is where you can select what information you’d like to see in the results.
   
   
7. Run Report.
   
   

Because of steps 4 and 5, only payments made before the payment cutoff for future events will appear in the results. That way, if you had to close your doors tomorrow you can know exactly how much you are liable for.